Latest Business News
China and Canada Announce Tariffs Relief
Prime Minister Mark Carney met President Xi Jinping in Beijing, the first such visit since 2017, to reset strained relations amid global trade instability from Trump's policies. Both leaders aim to build ties adapted to new realities, easing nearly a decade of tariffs tensions.
TSMC Expands $165 Billion US Investment Amid AI Boom
Taiwan Semiconductor plans to boost 2026 capital spending over 30% after record earnings and a US-Taiwan trade deal requiring $250 billion in US investments. Executives cite strong AI demand, lifting Asia chip stocks like TSMC (+0.2%), Broadcom (+2.5%), and AMD (+1.7%).
Trump Prefers Keeping Kevin Hassett in White House, Clouds Fed Chair Pick
President Trump indicated he wants top economic adviser Kevin Hassett to stay at the White House rather than nominating him as Fed chair to replace Jerome Powell. This follows suggestions Hassett might not get the role, amid Supreme Court arguments on removing Fed Governor Lisa Cook.
IMF Projects Global Growth Slowing to 3.1% in 2026 Amid Uncertainty
The World Economic Outlook Update forecasts growth dipping from 3.3% in 2024 to 3.2% in 2025 and 3.1% in 2026, with advanced economies at 1.5% and emerging markets above 4%. Risks include protectionism, fiscal vulnerabilities, and market corrections; policymakers urged to rebuild buffers.
US Stock Markets Closed for MLK Day on January 19
NYSE and Nasdaq will shut down fully for Martin Luther King Jr. Day, with no pre-market or after-hours trading; banks and USPS also closed. This early-year holiday pauses financial settlements and follows New Year's, ahead of Presidents' Day closure.
Brazil's Lula Hails Historic EU-Mercosur Trade Deal Signing
President Lula da Silva and EU's Ursula von der Leyen celebrate the impending free trade agreement between the EU and Mercosur bloc. The deal marks a major step despite Lula's absence at the signing ceremony.
Goldman Sachs and Morgan Stanley Report Double-Digit Profit Jumps
Both banks saw strong Q4 profits driven by a surging stock market and increased deal-making activity. Results reflect robust Wall Street performance amid economic recovery signals.
US Mortgage Rates Hit Lowest in Over 3 Years
Average long-term US mortgage rates fell to their lowest point in more than three years, boosting housing market accessibility. This decline supports potential recovery in real estate amid easing inflation.
Germany's Economy Shows Modest Growth After Two Years of Decline
Germany returned to modest GDP growth last year following two years of shrinkage, signaling stabilization in Europe's largest economy. Factors include export recovery and policy adjustments.
Venezuela's Acting President Pushes Oil Sector Opening to Foreign Investment
Delcy RodrĂguez called for more foreign investment in the state-run oil industry and warmer US ties in her first state of the union address. This aims to revive the economy amid ongoing challenges.
BlackRock's Rick Rieder Emerges as Fed Chair Contender
BlackRock's global fixed income CIO Rick Rieder is gaining traction for Fed chair, seen as easier to confirm than others. This comes amid Trump administration's Fed leadership shifts.
Davos Gathers Global Leaders Including Trump for Economic Talks
President Trump will lead the US delegation to the World Economic Forum in Davos, joined by business leaders amid trade and policy discussions. Private jets flock despite airspace limits, focusing on capitalism's future.